Cement prices fell for the sixth straight month amid weakening demand as construction activity was affected by unseasonal rains in parts of India and a ban in the smog-hit Delhi-NCR region.
All-India average cement prices marginally dipped by Rs 3 month-on-month to Rs 338 for a 50-kilogram bag in November, according to the survey of 12 dealers across five regions.
Sharp price cuts were witnessed in south India, the dealers said, while attempts were made to hike prices in the north, though most of it was rolled back. The central region, too, witnessed price cuts in the month. Dealers, however, said the potential exists for price hikes in north and western regions.
The northern region undertook a price hike of Rs 20-25 per bag at the start of the month, but most of it was rolled back in installments following lackluster demand and a ban in construction activity in Delhi-NCR region, according to three dealers. But dealers have been notified of a price hike of Rs 10 per bag by Ultratech Cement Ltd. which is likely to come into effect in the first week of December once the ban is lifted.
JK Cement Ltd. expects demand to recover in December or January next year.
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